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Dr. Rafayal Ahmed and Prof. Balazs Szentes

This course is compulsory on the MSc in Econometrics and Mathematical Economics. This course is available on the MSc in Applicable Mathematics, MSc in Economics and MSc in Economics (2 Year Programme). This course is available with permission as an outside option to students on other programmes where regulations permit.

Students on other programmes must get permission from the course conveners to take this course. 

Students must have completed Introductory Course for MSc EME (EC451).

EC451 takes place prior to the start of Michaelmas Term, please contact econ.msc@lse.ac.uk for more information.

The aim of this course is to: (i) introduce and develop the analytical tools of graduate level Microeconomics with a special emphasis on mathematical models; (ii) provide the students with a firm grounding in classical Microeconomic Theory as well as its modern development. Topics include: Consumer theory, producer theory, general equilibrium, welfare, choice under uncertainty, game theory, oligopoly, economics of information, topics in mechanism design, topics in behavioural economics.

20 hours of lectures and 10 hours of seminars in the MT. 20 hours of lectures and 10 hours of seminars in the LT.

Problem sets will be discussed in class and two marked assignments will be given in MT and LT.

The main texts are A Rubinstein Lecture Notes in Economic Theory, Princeton University Press (with the most up-to-date version available for free download from the author's website) and Mas-Colell, Whinston & Green, Microeconomic Theory, OUP. Other sources include: D M Kreps, Microeconomic Foundations I: Choice and Competitive Markets, Princeton University Press; Fudenberg and Tirole, Game Theory, MIT Press.

Exam (50%, duration: 2 hours) in the January exam period.
Exam (50%, duration: 2 hours) in the summer exam period.

Note that EC451 material will be covered on the exam.